1. Investment income, including capital gains, earned in a Tax-Free Savings Account (TFSA) are not taxed.

2. Any resident of Canada 18 or older can open a TFSA.

3. You can currently save up to $5,000 per year in a TFSA.

4. Unused TFSA contribution room can be carried forward to future years.

5. You can withdraw any amount at any time, for any reason. All withdrawals are tax-free.

6. Any amount withdrawn in a year can be put back in a TFSA because it will be added to the following year's unused contribution room.

7. Neither withdrawals nor income earned in a TFSA will affect your eligibility for federal benefits and credits that are based on income.

8. You can give your spouse or common-law partner money to contribute to a TFSA without that money, or investment income earned on that money, being attributed back to you, and TFSA assets can be transferred to a spouse or common-law partner upon death.

9. You can set up a TFSA and begin saving as soon as January 2009.

10. There is no age limit by which you must withdraw your savings.

For more information, go to the Canada Revenue Agency Web site at www.cra.gc.ca/tfsa.

- News Canada